Freeport-McMoRan Inc. $FCX Stock: Fisher Asset Management LLC Increases Position

Key Points

• Fisher Asset Management increased its Freeport-McMoRan stake by 1.8% in the third quarter, adding 1.19 million shares to hold about 68.1 million shares worth $4.77 billion. Institutional investors and hedge funds own 80.77% of the company’s stock.
• Freeport-McMoRan reported quarterly earnings of $0.88 per share, topping the $0.82 consensus estimate, while revenue of $7.55 billion also beat forecasts and rose 8.2% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $75.30; recent targets from Citigroup, RBC and BMO were raised to $84–$85.

Fisher Asset Management LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 68,111,240 shares of the natural resource company's stock after buying an additional 1,189,226 shares during the quarter. Freeport-McMoRan comprises about 1.4% of Fisher Asset Management LLC's holdings, making the stock its 21st largest position. Fisher Asset Management LLC owned approximately 4.74% of Freeport-McMoRan worth $4,767,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NBH Bank acquired a new position in Freeport-McMoRan during the second quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new position in Freeport-McMoRan during the 1st quarter valued at about $29,000. REAP Financial Group LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $32,000. Roxbury Financial LLC increased its position in Freeport-McMoRan by 196.5% during the second quarter. Roxbury Financial LLC now owns 593 shares of the natural resource company's stock worth $37,000 after buying an additional 393 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Freeport-McMoRan during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

FCX has been the subject of several recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Freeport-McMoRan in a research note on Thursday, September 10th. Wall Street Zen lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Citigroup upped their price target on Freeport-McMoRan from $66.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, October 5th. Royal Bank Of Canada raised their target price on shares of Freeport-McMoRan from $73.00 to $85.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 16th. Finally, BMO Capital Markets raised their target price on Freeport-McMoRan from $78.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $75.30.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $60.50 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 2.02. The company's 50-day simple moving average is $68.77 and its 200-day simple moving average is $65.29. Freeport-McMoRan Inc. has a one year low of $38.85 and a one year high of $80.24. The stock has a market capitalization of $86.88 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 0.57 and a beta of 1.38.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The natural resource company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.36 billion. Freeport-McMoRan had a return on equity of 12.09% and a net margin of 13.03%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. Equities analysts anticipate that Freeport-McMoRan Inc. will post 3.05 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th were paid a $0.0750 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, October 15th. Freeport-McMoRan's payout ratio is presently 12.61%.

Insider Buying and Selling

In related news, EVP Douglas Currault, II sold 80,000 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $78.56, for a total transaction of $6,284,800.00. Following the completion of the transaction, the executive vice president directly owned 211,016 shares in the company, valued at $16,577,416.96. This represents a 27.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lydia Kennard sold 3,798 shares of the company's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $79.11, for a total transaction of $300,459.78. Following the transaction, the director owned 122,702 shares of the company's stock, valued at $9,706,955.22. This represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company's stock.

Top Freeport-McMoRan Stories

Here are a few of the latest stories about FCX:

• Positive Sentiment: Argus Research reaffirmed its Buy rating, maintaining a favorable view of Freeport-McMoRan. Argus Research Reaffirms Their Buy Rating on Freeport-McMoRan
• Positive Sentiment: Zacks Research raised several quarterly and annual EPS forecasts, including FY2027 to $3.90 from $3.47 and FY2028 to $4.14 from $3.41. The higher projections point to stronger expected earnings and may support investor sentiment; its FY2026 estimate is $3.14, versus a stated consensus of $3.03. Freeport-McMoRan analyst estimates
• Neutral Sentiment: A Motley Fool comparison says Freeport-McMoRan has performed well this year but considers a copper-miners ETF as an alternative way to invest in the sector. This highlights a diversification option rather than a company-specific change in outlook. Freeport-McMoRan vs. a Copper ETF

Freeport-McMoRan Profile

Freeport-McMoRan Inc. is a mining company focused primarily on the exploration, development and production of copper, gold and molybdenum. Its products serve industries including construction, manufacturing, electronics and energy. The company operates mines and related facilities in North America, South America and Indonesia. Its assets include the Grasberg minerals district in Indonesia and copper operations in the United States, Peru and Chile. Freeport-McMoRan traces its roots to Freeport Sulphur Company, founded in 1912, and has since developed into a major international mining business.

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